Stocks Opened Lower after Trump Victory

U.S. stocks opened modestly lower and rebounded in the early trading on Wednesday as the financial markets grappled with the prospects of Republican Donald Trump as the 45th president of the United States. The Dow Jones Industrial Average lately rose 43.79 points, or 0.24%, to 18,376.53. The S&P 500 was up 4.32 points, or 0.20%, to 2,143.88. The Nasdaq Composite gained 3.20 points, or 0.06%, to 5,196.69.

Oil futures tilted tepidly higher in volatile early trade Wednesday morning, as investors struggled to interpret the impact of a surprise victory by Republican Donald Trump in his bid for the White House. December West Texas Intermediate crude futures were up 9 cents, or less than 0.2%, at $45.01 a barrel. January Brent crude advanced 21 cents, or 0.5%, to $46.28.

Viacom said Wednesday that its fourth quarter profit declined significantly. For its fiscal fourth quarter, Viacom said revenue fell 15% from the year-ago period to about $3.23 billion, from nearly $3.79 billion, as advertising revenue fell across its operations. Net income came to $252 million, or 63 cents per share, compared with $884 million, or $2.21 a share in the year-earlier period, marking a decline of 71%.